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BUSML 3250 Principles of Marketing Chapter 11 Quiz with Answers
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BUSML 3250 Principles of Marketing Chapter 11 Quiz with Answers
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BUSML 3250 Principles of MarketingChapter 11 Quiz with Answers
Basic price adjustments, known as __________, are used to reward customers for
certain responses. - Answer-discounts and allowances
Many personal care companies combine toothpaste with a toothbrush at a reduced
price. This is an example of __________ pricing. - Answer-product bundle
Promotional pricing tactics include __________. - Answer-discounts, special-event
pricing, and limited time offers
When Apple introduced their iPhone, they priced the new product at $599, considerably
higher than either their iPod or competing cellular phones. Apple was pursuing a(n)
__________ pricing strategy. - Answer-market-skimming
__________ occurs when retailers set an artificially high "regular price" and then
advertise a "sale price" which is actually close to their everyday price. - Answer-
Deceptive pricing
Many amusement parks charge a daily ticket or season pass charge plus additional
fees for food and other in-park features. This is called __________. - Answer-two-part
pricing
Which of the following statements regarding initiating price increases is correct? -
Answer-The company should consider ways to meet higher costs or demand without
raising prices.
Recently, Amazon.com has been accused of __________, which is the practice of
selling products below cost to harm competitors. - Answer-predatory pricing
Whirlpool washers and dryers are offered in many different models. Whirlpool will use
__________ pricing to determine the price steps between the different models. -
Answer-product line
Which of the following statements is true concerning new product pricing strategies? -
Answer-For a market-skimming strategy to be successful, the costs of producing a
smaller volume cannot be so high that they cancel the advantage of charging more.
Margaret has been invited to a fancy dinner party and wants to bring a good bottle of
wine as a gift for the host. Because she does not know much about wine, she will likely
use the price of the wines as a(n) __________. - Answer-indicator of quality
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